Latin America Nitric Acid Market Growth, Share, Report 2023-2028
El nuevo estudio de Informes de Expertos titulado ‘Mercado Latinoamericano de Ácido Nítrico, Informe y Pronóstico 2023-2028′, ofrece un análisis profundo del mercado, evaluándolo por concentración, aplicación, uso final y las regiones clave. El informe analiza los factores clave de éxito y las limitaciones, también rastrea las últimas tendencias en la industria y estudia su impacto en el mercado en general. Además, evalúa la dinámica del mercado, cubriendo los indicadores clave de demanda y precio, junto con el análisis del mercado basado en los modelos FODA y las Cinco Fuerzas de Porter.
The new report by Informes de Expertos titled, ‘Latin America Nitric Acid Market 2023-2028’, gives an in-depth analysis of the market, assessing it based on concentration, application, end use, and key regions. The report analyses key success factors and constraints, tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): X%
Nitric acid is utilised as a raw material in fertilisers, owing to which farmers are under more pressure to enhance agricultural yields due to the world’s population growth. One of the essential ingredients in manufacturing nitrogen fertilisers, which are in high demand in the agricultural sector, is nitric acid. Moreover, the global product market is highly competitive, particularly with multinational corporations constantly investing to win a larger market share. Therefore, increased demand from the developed world’s automotive industry also contributes to the market’s expansion for nitric acid. The need for toluene diisocyanate, which is generated from nitric acid, is also boosting the entire market due to the rising demand for polyurethane from end users such as the construction, furniture, and automotive industries.
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Industry Major Segments
Based on concentration, the industry can be segmented into:
- Dilute Nitric Acid (68%)
- Concentrated Nitric Acid (69%-71%)
On the basis of application, the product can be classified into:
- Adipic Acid
- Toluene Di-Isocyanate (TDI)
- Ammonium Nitrate
On the basis of end-uses, the product can be divided into:
Key regions covered include:
A highly specialised chemical industry offers sufficient room for nitric acid market expansion. Due to the existence of speciality chemical makers, nitric acid usage is anticipated to increase dramatically. Renowned firms and companies in the nitric acid sector frequently engage in inorganic strategic actions, such as acquisitions, the launch of fresh products, collaborations, investments, and production expansions, in order to survive the intensifying competition and boost their global footprint. Moreover, molten ammonium nitrate and calcium carbonate are combined at a temperature of around 170 °C to create calcium ammonium nitrate. Because of its hygroscopic nature, it can take in moisture from the surroundings. Soil may still utilise calcium ammonium nitrate without enough water. These trends are boosting the nitric acid market in the LATAM region.
Key Market Players
The major players in the market are:
- BASF SE
- Columbus Chemicals
- Mitsubishi Chemical Corporation
- Deepak Fertilisers
- Petrochemicals Corporation Ltd
- Nutrien Ltd
This report covers their profiles and provides information on expansions, investments and mergers and acquisitions, among other latest industry developments.
Informes de Expertos the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.
Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.
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